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Economist talks of growth spurt

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Published Date: 28 April 2007
INDEPENDENCE could lead to record economic growth and see average families thousands of pounds better off, according to economists.
A research paper published by the Adam Smith Institute said Scotland could emulate Ireland's recent economic success if it followed the same policies.

In Independent Scotland: The Road to Riches, international economist Gabriel Stein said reduced taxes, spending cuts and a business-friendly environment, could see growth over a five-year period rise from 4.7 per cent to Ireland's seven per cent.



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1

I'm no really here,

28/04/2007 11:33:00

Help Labour, save us from this. We're too frightened to have an economic growth rate equal to the rest of the UK, let alone Ireland. How would our businesses and scientific research and our education survive? Masters, please save us.

2

Marian,

Edinburgh 28/04/2007 11:42:13

George Mathewson, Tom Farmer, Donald MacDonald, Professor Andrew Hughes Hallett and numerous eminent economic experts are not alone in recognizing that the current New Labour/Liberal Democrat administration have failed us miserably. Scotland desperately needs a jolt. One of the best things to have happened in the last 50 years is the independence debate which sets us all thinking and talking about the future, rather than dwelling on the past or whingeing about the present. The fact is there is something seriously screwed up with our economy, when roughly half of the working population are employed by the state and large chunks of the urban population are on state benefits of one kind or another. New Labour does not appear to understand that devolution as it is designed and practised is never going to be accepted by the Scots. They want us to simply accept and copy unquestionably the economic model they have adopted for England and they don't have any separate plans uniquely tailored for improving Scotland's economy to ensure that Scots may prosper and from that point of view they have not placed Scotland first. Gordon Brown of New Labour simply wants us to accept more of the same economic policies that he has tailored to keeping happy the speculators and financiers of Western Europe's most centralised economy based which is based in the City of London. For a while a sea of debt has managed to keep the UK financially afloat, now however due to these policies to suit the City of London, we have a poisonous mix of the ingredients of too much borrowing, too little saving, inflation, climbing interest rates, over-valued £, and increasing unemployment within the UK which are altogether going to ensure that this New Labour created artificial bubble is going to burst hitting the whole of the UK irrespective of whether they contributed to it or not. See analysis in http://business.guardia

3

Rollo Tommasi,

28/04/2007 12:35:22

The "well proven fact that the Scottish National Party policy of lowering taxation on private businesses will stimulate and sustain faster growth for the Scottish economy" is not actually that simple.

Cutting corporation/income taxes might help, depending on a lot of other factors (e.g. the existing tax rates; competitors' policies; how mobile businesses actually are and who their customers are). Small business rates relief actually achieves very little, as small businesses in practice soon find that reduced rates drive up rent levels.

4

John S,

28/04/2007 12:37:25

#2 (Marian) well though out comment.

The research paper by the ASI seems to confirm the view of Professor Andrew Hughes Hallett.

Scotland's growth performance tells the same story. She is a rich country with potential. Yet her average growth rates over the past 25 and 10 years have been 22% below the UK average; while the small countries in the EU have grown twice as fast on average over the same period. The opportunity cost of this in money terms is enormous, let alone in personal or cultural terms.

http://www.theherald.co.uk/misc/print.php?artid=1226635

This election is about Scotland's Oil and in the future Scotland's Fresh Water

5

Gilbie's Boy,

28/04/2007 12:41:59

WHY WASN'T THIS STORY THE FRONT PAGE HEADLINE?

Oh, silly me! If it had presented the opposite viewpoint, well, that would have been different....

GB

6

frank mcbride,

lusitania 28/04/2007 14:00:34

LORD PRESERVE US FROM A MORE PROSPEROUS SCOTLAND.

MAKE US UNABLE TO SEE THE ACCURSED snp ON THE BALLOT PAPERS. THIS WE EARNESTLY PRAY ;-)

Just in case God is a bit deaf today.

7

Cam3,

Scotland 28/04/2007 21:28:24

McConnell today, '...fighting for Scotland...'

What an absolute ******* weasel.

See through the continued Labour lies and negative 'ye cannae dae that Scotland' spin.

SNP!

8

John S,

28/04/2007 22:23:59

The ASI report also said after 10 years of independence, household incomes in Scotland could out perform the UK average by as much as £6,000.

By contrast the briefing stated that UK growth rates would be less impressive.

http://news.bbc.co.uk/2/hi/uk_news/scotland/6602117.stm

9

Robbie,

NZ 28/04/2007 22:25:08

New Zealand is a small but prosperous free market economy, which is greatly dependent on international trade, mainly with Australia, the United States of America and Japan. (Wikipedia)
There could also be a link :
The Economy of Scotland is a small but very prosperous mixed market economy, which engages in international trade, with Europe, England, the United States of America, Japan, China Australia, New Zealand and other nations it has sealed trade agreements with. It is rich in oil, hydro-electric power and a leader in the advancing technology of solar energy. It has an efficient health and education programmes and is in the forefront in the protection of its natural environment. Oh! and it did it itself but always in cooperation with opther friendly nations.


 

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